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Ørsted acquire IncubEx stake

By: Matthew White 27/04/2018 Ørsted

General

Ørsted has taken a $1.65m stake in IncubEx following the company's recent $5m fund raiser.

IncubEx’s Directors are delighted to welcome Søren Scherfig, Head of Markets and Senior Vice President at Ørsted, to the Board of the Company. Existing IncubEx shareholders further supported the Company by making up the remainder of the fund raise.

IncubEx works in conjunction with its exchange partner, European Energy Exchange and other service providers and stakeholders to design and develop new financial products in global environmental, reinsurance, and related commodity markets. The company has a focus on continuous improvement of products and services, including technology, trading solutions, and operational efficiencies.

Søren Scherfig, said: "Our vision is a world that runs entirely on green energy and I look forward to working with IncubEx. We know the company as an innovative frontrunner, building and aligning commodity products to meet the market demand. Our cooperation represents an opportunity for us to accelerate the maturity of these global markets and ultimately the green transition"

Neil Eckert, Chairman of IncubEx, said: “This is a significant development for us. Ørsted are trailblazers in the environmental space. Our business is growing quickly and this raise gives us the working capital and balance sheet to pursue our goals. Most importantly, we welcome Ørsted as a strategic partner and are proud to have Søren on our Board”.

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Ørsted acquire IncubEx stake

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